Energy analysts said a win for the challenger Kerry in Tuesday's US poll could mean lower crude prices than if President George W. Bush is re-elected.
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Crude Prices Ease In Anticipation of Kerry's Victory
Crude oil prices plunged below $50 on Monday
Crude oil prices plunged below $50 on Monday amid speculations that Senator John Kerry?s almost evident win could ease the geopolitical situation and hence, ease oil prices.
During the session on the NYMEX, US light crude tumbled to $49.40 a barrel, but then it retraced slightly to $49.92 a barrel, down $1.84, or 3.6 per cent. US crude has been a month above $50, peaking a week ago at $55.67. London Brent futures lost fell $2.08 to $46.90 a barrel at IPE.
Energy analysts said a win for the challenger Kerry in Tuesday's US poll could mean lower crude prices than if President George W. Bush is re-elected.
Energy analysts said a win for the challenger Kerry in Tuesday's US poll could mean lower crude prices than if President George W. Bush is re-elected.
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